Abstract

GIL-LEON, José Mauricio; CASAS-HERRERA, Julián Augusto  and  LEMUS-VERGARA, Andrea Yaelt. Is university education profitable in Colombia?: an estimation. Revista Investig. Desarro. Innov. [online]. 2020, vol.10, n.2, pp.249-265.  Epub Jan 19, 2021. ISSN 2027-8306.  https://doi.org/10.19053/20278306.v10.n2.2020.10723.

This paper aims to estimate the returns of the university education of the population employed in Colombia, differentiating by departments and educational level, with data from the Gran Encuesta Integrada de Hogares de 2015, through the Mincer equation, including the sheepskins effect which allows to capture the different rewards granted to obtain a university diploma. Moreover, a cost benefit analysis was calculated to determine the profitability of a university career in Colombia. The results indicate that there is a low percentage of employees with a university degree, although in Colombia it is profitable to carry out a career since if the person enter the labor market, with a higher education degree, this one will have an average profitability of 11.2% for men and 9.1% for women.

Keywords : cost-benefit analysis; university education returns; human capital; labor market; Mincer equation.

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